Jerome Powell will "underwhelm everyone and not overwhelm anyone," one economist saysMarket Insiderread more
The unspecified action comes after the U.S. accused Iran of carrying out the weekend attacks on critical Saudi oil installations.Politicsread more
Oil prices retreated after President Donald Trump said he ordered the Treasury Department to "substantially increase" sanctions on Iran.Energy Commoditiesread more
Corporate executives and money managers have grown increasingly pessimistic about the economy as growth around the world slows.Trader Talk with Bob Pisaniread more
Facebook unveils the Portal TV, a streaming device that comes with a camera and microphones for making video calls via television.Technologyread more
U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction increased.Economyread more
Credit card start-up Petal just completed a new financing round.Financeread more
Four Wall Street firms downgraded FedEx after the company's poor earnings report.Marketsread more
The electric car manufacturer is offering auto insurance to its owners in California, with plans to expand to other states later on.Personal Financeread more
Here are the biggest calls on Wall Street on WednesdayInvestingread more
Check out the companies making headlines after the bell:
Switch shares surged as much as 8 percent after hours Tuesday after the telecommunications company reported mixed fourth-quarter earnings. The company earned $103 million in revenue, missing estimated of $104 million, according to Refinitiv. Earnings per share were 5 cents, beating expectations by 2 cents. The stock later gave up most of its after-hours gains.
Switch estimated full-year 2019 revenues between $436 and $445 million, compared to the $450 million forecast by analysts. The stock has recover most of its gains.
Clearwater Paper Corporation fell more than 6 percent after market close Tuesday after reporting fourth-quarter earnings. The company reported net sales of $428.7 million for the fourth quarter of 2018, 1.8% lower than net sales of the same quarter of 2017.
"While the performance of our consumer products business continues to be impacted by an increasingly competitive market, we have made great progress across this business, and are encouraged by the improvements in our operating results," said the company's president and CEO Linda Massman.
Cara Therapeutics shares jumped more than 11 percent in extended trading Tuesday following the release of the company's fourth-quarter earnings. The company posted $5.5 million in revenue. The company said they expect 2019 to be a "transformative year" for the company because of "significant clinical readouts" of their pre-dialysis drugs.